Steve Bannon and a Fugitive Billionaire Target a Common Enemy: China

Over lunch, Mr. Guo and Mr. Bannon discussed China’s military capabilities, as well as the financial implications of Beijing’s rule, including what impact the country’s mounting corporate debt might have on its economy.

A friendship emerged.“It was fantastic. He really impressed me,” Mr. Bannon said of his first meeting with Mr. Guo. “We talked about President Trump’s approach to China, and he went into corruption in the Chinese Communist Party.”

Mr. Bannon later introduced Mr. Guo to people in the hedge fund community, including J. Kyle Bass, who has soured on China and sought to profit by short-selling the Chinese currency.